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ARTICLE · 11 MAY 2020

Victorian properties grisly secrets cannot be hidden under the carpet

Madgwicks
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Vendors must now disclose "material facts", those facts that might influence an average purchaser of the property.

AustraliaReal Estate and Construction
Bethany Visser
Bethany Visser

In brief

Does your property have "a history"? For example, was your property once the scene of a grisly crime or a meth house? If so, new changes to the law, effective from 1 March 2020, mean these and other unsavoury events and activities are the kinds of "material facts" that, by law, a vendor must now disclose.

What you need to know

An amendment to the Sale of Land Act (Vic), requiring Vendor's to disclose "material facts" about a property, has taken effect from 1 March 2020.

Material facts are those facts that would be generally regarded to influence an average purchaser in deciding to buy a property or the price they pay for it. This includes whether a murder had occurred on the property, if the property had been used as a meth lab, or the existence of flammable cladding or asbestos

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. Madgwicks is a member of Meritas, one of the world's largest law firm alliances.

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